Ethereum Options Pricing Suggests ETH Price Could Reach New Highs
• Ethereum whales and market makers are no longer charging excessive premiums for protective put options, a sign that ETH price could be en route to new highs.
• The price of Ethereum’s native cryptocurrency, Ether (ETH), gained 10.2% from Jan. 4 to Jan. 10, breaching the $1,300 resistance without much effort.
• South Korean tax agents reportedly raided crypto exchange Bithumb’s offices to explore a potential tax evasion case, and Cameron Winklevoss issued an open letter to Barry Silbert, CEO of Digital Currency Group, making serious fraud accusations.
The price of Ethereum’s native cryptocurrency, Ether (ETH), has been on the rise since the start of 2021, with the price breaching the $1,300 resistance without much effort. This price increase has now been accompanied by a key change in Ethereum options pricing, hinting that ETH price could rise beyond $1,350 in the near future. Ethereum whales and market makers are no longer charging excessive premiums for protective put options, signaling that ETH price could be en route to new highs.
Along with the positive price trend, news around the cryptocurrency has been mixed. In China, former Chinese Communist Party secretary of Fuzhou, Xiao Yi, confessed to “acting recklessly” in support of crypto mining, apologizing for causing “grave losses” to the Fuzhou region. In South Korea, tax agents reportedly raided crypto exchange Bithumb’s offices to explore a potential tax evasion case. On Dec. 30, Park Mo — an executive at Bithumb’s parent company — was found dead, though he was under investigation for embezzlement and stock price manipulation.
Adding to the news, Cameron Winklevoss, co-founder of the Gemini exchange, issued an open letter to Barry Silbert, CEO of Digital Currency Group. Winklevoss made some serious fraud accusations in the letter, though the details of the accusations remain unclear.
The combination of the change in Ethereum options pricing and the mixed news around the cryptocurrency has left many investors wondering what will happen to the price of Ether. Some analysts remain optimistic, believing that the price of Ether could continue to increase in the near future. Others remain more cautious, warning that the negative news could cause the price of Ether to drop. Whatever the outcome, it’s clear that the price of Ether is going to remain volatile in the near future.